Centrus Energy Stock Price, News & Analysis

Centrus Energy Corp. (NYSE American: LEU) announced a $60 million investment to resume and expand centrifuge manufacturing at its Oak Ridge, Tennessee facility. This investment, planned over 18 months, aims to support a potential multi-billion dollar expansion of uranium enrichment at the American Centrifuge Plant in Piketon, Ohio. The announcement follows securing over $2 billion in customer commitments for Low-Enriched Uranium production and two U.S. Department of Energy awards for HALEU enrichment and deconversion. The company is competing for over $3.4 billion in federal funding to boost domestic nuclear fuel production.

Centrus Energy (NYSE American: LEU) has appointed Neal Nagarajan as Senior Vice President and Head of Investor Relations. Nagarajan will oversee investor relationships and communicate the company's business strategy, governance, and financial performance. He joins from Sloane & Company, where he served as Senior Vice President of IR and Special Situations. His previous experience includes leadership roles at Sard Verbinnen & Company and work as an M&A investment banker. Nagarajan holds an MBA from Georgetown University and degrees in Economics and International Affairs from The George Washington University.

Centrus Energy (NYSE American: LEU) has priced a $350 million private offering of 2.25% Convertible Senior Notes due 2030. The notes will bear interest at 2.25% annually, payable semiannually, and mature on November 1, 2030. The initial conversion rate is 10.2564 shares per $1,000 principal amount, equivalent to $97.50 per share. The company expects net proceeds of approximately $337.9 million, which will be used for general working capital, technology development, debt repayment, capital expenditures, and potential acquisitions.

Centrus Energy Corp. (NYSE American: LEU) has announced plans to offer $350 million of Convertible Senior Notes due 2030 in a private offering to qualified institutional buyers. The notes will pay interest semiannually on May 1 and November 1, starting May 1, 2025. Initial purchasers may receive an option to buy an additional $52.5 million in notes. The notes will be convertible to cash or a combination of cash and Class A common stock. Centrus plans to use the proceeds for working capital, technology development, debt repayment, capital expenditures, and potential acquisitions.

Centrus Energy reported Q3 2024 results with a net loss of $5.0 million on revenue of $57.7 million, compared to net income of $8.2 million on $51.3 million revenue in Q3 2023. The company secured $1.1 billion in new contingent commitments for LEU production deployment, bringing the year-to-date total to $2.0 billion. Centrus was selected by the DOE for HALEU production and deconversion contracts, with a potential ceiling of $2.7 billion. The company maintains a strong consolidated cash balance of $194.3 million and a substantial backlog of $3.8 billion extending to 2040.

Centrus Energy Corp. (NYSE American: LEU) has announced its upcoming third quarter earnings conference call, scheduled for October 29, 2024, at 8:30 a.m. ET. The company will release its Q3 2024 earnings report after market close on October 28. Shareholders and financial community members can access the webcast through the Investor Relations section of www.centrusenergy.com, with replay available until November 8, 2024.

Centrus Energy serves as a nuclear fuel and services provider for the nuclear power industry, having supplied over 1,750 reactor years of fuel since 1998, equivalent to 7 billion tons of coal. The company focuses on providing reliable nuclear fuel supply sources and advancing centrifuge technologies to restore domestic uranium enrichment capabilities.

Centrus Energy (NYSE American: LEU) has won an award from the U.S. Department of Energy to expand domestic production of High-Assay, Low-Enriched Uranium (HALEU). This fuel is important for next-generation nuclear reactor designs. The award, given to Centrus' subsidiary American Centrifuge Operating, (ACO), has a minimum contract value of $2 million and a maximum value of $2.7 billion over ten years for all awardees.

ACO will manufacture centrifuges and equipment in the United States, utilizing a domestic supply chain across 13 states. This award is part of a public-private partnership aimed at restoring American-owned uranium enrichment capabilities. Additionally, ACO was recently selected to deconvert HALEU from uranium hexafluoride to uranium oxide and/or uranium metal forms, a separate step in the nuclear fuel production process.

Centrus Energy's subsidiary, American Centrifuge Operating, (ACO), has been awarded a contract by the U.S. Department of Energy to support the deployment of technology and equipment for High-Assay, Low-Enriched Uranium (HALEU) deconversion. This process involves converting uranium hexafluoride (UF6) to uranium oxide or metal forms, a important step in nuclear fuel production. ACO is one of six awardees, with a minimum contract value of $2 million and a maximum value of $800 million for all awardees combined.

Centrus President and CEO Amir Vexler emphasized the importance of this award in building an advanced nuclear fuel supply chain and expanding the capabilities of their Ohio facility. As the only U.S.-owned, U.S.-technology enrichment company, Centrus aims to lead efforts in reclaiming America's nuclear fuel leadership.

Centrus Energy Corp. (NYSE American: LEU) has announced its participation in TD Cowen's 2024 Nuclear Fuel & Next Generation Virtual Roundtable on October 8, 2024. The company's management will engage in a fireside chat at 1:05 PM ET and host one-on-one investor meetings throughout the day.

A webcast of the fireside chat will be accessible on Centrus' Investor Relations Website. Interested parties can request invitations or schedule meetings with management through their TD Cowen representative. This event provides an opportunity for investors to gain insights into Centrus Energy's operations and future prospects in the nuclear fuel industry.